Business Live: Thursday 26 June

Live text

Reporting:

  • Simon Tulett 
  • Russell Hotten 

Last updated 26 June 2014

STANDARD

Simon Tulett, Business Reporter

Good morning from the live page team. All eyes are on the Bank of England today, with many expecting it to announce measures to cool the housing market in parts of the UK. We'll bring you the press conference live. And we'll have much more, including US fraud charges against Barclays, between now and 13:00.

STANDARD 06:03 HOUSE PRICES

Radio 5 live
Houses

House prices are the big theme on Wake Up to Money. The Bank of England will say later what actions - if any - it might take to cool the market. But John Earnshaw, a mortgage broker in Lancashire, says the local market is "fairly sluggish" and that people want to move "but are finding it a lot harder to get the finance in place".

STANDARD 06:07 HOUSE PRICES

Radio 5 live

Richard Donnell, research director at Hometrack, tells Wake Up to Money that the central London market is starting to cool. The UK has been a two-tier market with a lot of London sales cash-driven, he says. But there are signs things could be changing.

STANDARD 06:12 HOUSE PRICES

Radio 5 live

The glamour of radio. For Wake Up to Money's housing special Steph McGovern has been in the Lancashire village of Ribchester, where a local resident in a dressing gown has just told her off for being too loud.

STANDARD 06:20 HOUSE PRICES

Radio 5 live

Matthew Pointon, property expert at Capital Economics, tells Wake Up to Money that in some areas of London prices have risen 25-30% year-on-year, and conditions are boom-like. But he explains a 'boom' is different to a 'bubble', because we don't know yet if prices will burst or be sustainable.

STANDARD 06:29 BARCLAYS ALLEGATIONS

BBC Radio 4
Barclays

A lot of the business pages this morning are leading on those fraud allegations against Barclays in the US. On Today Paul Kavanagh, from Killik & Co, says the accusation is that Barclays has "fallen short" of its "very serious regulatory responsibilities".

STANDARD 06:43 HOUSE PRICES

Radio 5 live

With the Bank of England set to announce what actions - if any - it will take to cool house prices, Lancashire mortgage broker John Earnshaw reminds listeners to Wake Up to Money that not everyone finds it easy to get a mortgage. "A lot of people are going to banks and feel like they are banging their heads against a brick wall," he says. "There is not the influx of cash buyers that you get in London."

STANDARD 06:52 CHINA HOUSING

BBC Radio 4

Today is comparing the property markets in the UK and China. Economist George Magnus says we should be much more worried about the latter. Following years of growth, the Chinese property market is "drifting into recession", he says. And the impact that could have on its construction industry could knock up to 2% off China's GDP, he adds.

STANDARD 07:03 ARGENTINA DEBT

Talks between Argentina and hedge fund bondholders are continuing as the South American country seeks to avoid defaulting on its debt. Argentina's Economy Minister, Axel Kicillof, is in New York to discuss his country's debt situation with representatives of the Group of 77 developing nations, plus China.

STANDARD 07:12 HOUSE PRICES

BBC Radio 4

Alysha Casingena, an estate agent in north London, says she doesn't see any signs of a housing bubble in the capital. No surprises there, then. "I just do not see any signs... we're still reaching higher prices," she tells Today.